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API Banking Solution

Open Banking. For Everyone. Novopay's API Banking solution is an end-to-end offering to help Banks in packaging their services. Traditional Banks are composed of several subsystems that need to work together for superior consumer experience. Lack of open APIs limit the Bank's ability to reach newer markets & work with fintechs. Novopay's API Banking solution combines complex APIs within the Bank to offer crisp APIs to end-developers. It provides a developer sandbox to try out APIs and takes care of the end-to-end API provisioning lifecycle.

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API Sandbox
Developers love clear API specs, tidy documentation, exhaustive error codes & open standards compliance. Novopay's API Banking solution can package not-so-pretty backend APIs into pretty APIs that developers love to consume. They get to play with APIs in an interactive Sandbox which cuts down development time.
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Complex Orchestration
Oftentimes, granular banking APIs are not enough to provide a rich banking experience. They need to be combined to provide the user experience that current generation demands. Traditional API Gateways cannot perform complex orchestration and are agnostic to banking functionality. Novopay's API Banking solution is built for banks & solves this problem by supporting complex orchestration of backend services.
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API Billing & Metering
API Banking allows banks to monetise APIs by empowering new-age fintechs and create a thriving ecosystem. To enable this, Novopay's API Banking solution provides a flexible API provisioning, billing & metering engine. This enables banks to create lucrative pay-per-use pricing models and bouquet offerings.
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Setup Security
Not all API end-consumers have the same level of maturity to trust them with a single security scheme. Depending on the sensitivity of the API, maturity of the end-consumer and connectivity, Novopay's API Banking solution provides 4 levels of step-up security. Between the simplest TLS 1.3 + VPN to the most complex TLS 1.3 + PKI + HMAC, there is a always a security scheme available for an API - Consumer combination.
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Throttling & QOS Monitoring
Depending on the pricing plan, an end-consumer is allowed a certain API throughput in TPS. When API consumers go beyond the signed-up API throughput, they need to be limited to prevent cascading failures and abuse. To ensure good Quality of Service (QoS), Novopay's API Banking solution allows dynamic throttling of APIs for consumers. This may also be done in scenarios when backend services are down or operating below agreed upon SLAs.
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Real-time Analytics
Real-time analytics give the Bank admins a clear picture of current throughput, latency and availability. In a complex banking world where API availability is mission critical, Novopay's API Banking solution provides out-of-the-box dashboards to aid in smooth administration.
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